Did you know…?

You can claim a tax deduction for the cost of the testing and removal of asbestos from your rental or commercial property.

TAX RULING TR2019/D3: DEDUCTIONS FOR EXPENDITURE ON ENVIRONMENTAL PROTECTION ACTIONS* (FOR EXAMPLE – ASBESTOS)

If you have undertaken testing for asbestos (even if none was found), removed asbestos and/or reinstated property parts (for example, walls) that were removed due to asbestos, you may be able to claim a tax deduction on these costs.

This applies to rental or commercial properties, or your home if it is also a place of business.

See if this applies to you by reading more about it here: